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Arian Silver signs MOU over Noche Buena project

Thu, 25th Feb 2016 14:12

(ShareCast News) - Arian Silver Corporation pressed on with its turnaround plan on Thursday, signing a memorandum of understanding (MOU) with private company Tierra Nueva Mining (TNM), to evaluate its portfolio of mineral properties in Zacatecas State, Mexico.The AIM-traded company said the MOU provided Arian with the right, for a period of 90 days, to conduct due diligence on TNM's portfolio of interests, which included the option on the Noche Buena hard rock project and 100% ownership of the associated tailings project.No fees were payable by Arian in repsect of the MOU, the company's board confirmed, and the MOU did not grant exclusivity to Arian regarding TMN."We are pleased to be making progress in rebuilding Arian, whilst remaining cognizant of the current low metal prices and the fact that investor sentiment towards the mining sector remains negative," said chief executive officer Jim Williams."With this in mind, we are initially concentrating our efforts on near-term and low-cost production opportunities, possibly through the leaching of tailings. Mining and metals markets operate in cycles and the current sentiment will change in time, as such we are also looking at projects with longer-term potential," he added.Williams was a minority shareholder of TNM, and thus was precluded from voting on any matter relating to any potential transaction with TNM, including the execution of the MOU.The Noche Buena project was partly contiguous with Goldcorp's Penasquito project in the northern part of the Zacatecas. Ariana's board said the projects were primarily gold, with silver and base metals of lead and zinc as biproducts.Noche Buena operated from 1926 to 1993, closing due to the low metal prices at the time.Historical production records indicate approximately one million tonnes were mined, with up to 20 grams of gold per tonne, 800 grams of silver per tonne and 8% lead and zinc.The tailings were reported to have a NI 43-101 compliant resource of one million tonnes, containing three grams per tonne of gold, 55 grams per tonne of silver and 0.8% zinc.Arian was treating the resource and production data as historical, with thorough analysis and review forming part of the due diligence exercise.
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4 Nov 2013 10:38

Arian Silver reports progress on refurbishment of Ele Bote plant

Arian Silver Corporation has reported a "positive start" to its refurbishment of the newly purchased Ele Bote processing plant in Mexico. The plant is expected to process up to 1,500 tonnes per day (tpd) once fully commissioned. "The successful commissioning of the plant and development of the mi

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15 Mar 2013 10:46

Arian Silver Corporation shares surge on plant acquisition

Arian Silver Corporation's shares rocketed Friday as the mining company announced a deal to acquire a processing plant in Mexico to increase capacity. The explorer signed a provisional agreement with Sandy Hill, a company incorporated in the British Virgin Islands, to buy a plant with a capacity to

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1 Mar 2013 14:57

Arian Silver reports annual loss as dispute halts production

Arian Silver Corp.'s shares fell Friday after the company posted an annual loss as revenues and production were hit by suspended mining operations. The Mexico-focused silver miner reported a gross loss of $0.76m for 2012, compared to a profit of $0.81m the previous year, while revenues plunged to

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19 Feb 2013 07:41

Arian Silver Corp reports milling has resumed in Zacatecas State

Toll milling has resumed at Arian Silver Corporation's project in the Zacatecas silver belt in Mexico. The AIM-listed silver exploration and development company faced a setback in July when its toll milling operations had to be suspended due to a dispute with the owners of the Contracuna Mill. The

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27 Nov 2012 13:58

Arian Silver signs plant contract

Arian Silver Corporation was a strong riser after it signed a contract for exclusive use of a newly refurbished processing plant in Mexico. The firm said the plant near the City of Zacatecas would enable it to achieve significantly improved recoveries of silver from this new toll milling operation

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16 Jul 2012 08:46

Resources round up: Arian, Baobab, Trans-Siberian Gold ...

Arian Silver, the Mexico focused silver company, said a dispute with the owner of a toll mill has prompted it to suspending trial milling operations at its San Jose mine in Zacatecas state. Arian says talks are underway to resolve the row but the stock was down 15% at 11:31. Baobab Resources, the m

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12 Mar 2012 11:22

Resources round-up: Kea, Arian, Thor Mining...

Kea Petroleum's drilling programme in the Taranaki basin of New Zealand has been delayed due to extreme weather conditions in the region. The programme to drill Mauku, which as previously advised requires challenging access and site preparations, is the worst affected area. The intention was to begi

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22 Aug 2011 12:44

Arian Silver positive despite half year loss

Arian Silver, a silver exploration and production company, reported a consolidated pre-tax loss of $9.9m, including a non-cash employee share options expense of $8.0m, for the six months ended 30 June 2011. Despite this the group saw its share price rise on a back of a stronger second quarter

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27 Apr 2011 15:50

Losses narrow at Arian

Mexico-focused miner Arian Silver, the third best performing UK stock of 2010, made a consolidated pre-tax loss in 2010 of $1.7m, an improvement on its $2.1m loss the previous year. As at the end of 2010, the company had total assets of $18.9m, including intangible assets of $1.2m, property, plant

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21 Feb 2011 11:06

Small caps round-up: Arian Silver, Central Asia, Thor

Arian Silver has uncovered the widest intersections of economic grade silver mineralisation so far at its 100%-owned San Jose Property in Zacatecas State, Mexico. The results from the first two holes in the Guanajuatillo area along the San Jose Vein comes as the group completes 24 holes of its phas

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24 Dec 2010 20:20

Resource stocks dominate the list of winners

In the unlikely event that a family member will buy you a TARDIS or some other time travelling device for Christmas, here is an overview of stocks that you should have bought at the end of 2009. Oil and gas-focused investor and adviser Parkmead Group put in a late spurt to claim the title of best p

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20 Dec 2010 10:32

Small caps round-up: African Eagle, Xcite, Dunedin Smaller Co's

African Eagle is up again as a new economic model for the Dutwa nickel project in Tanzania turned out to be a "significant" improvement over the results of the scoping study 18 months ago. Independent Perth based consultant Simulus gives a pre-tax net present value (NPV) of US$650m at a discount ra

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25 Oct 2010 11:40

Small caps round-up: Arian, eServGlobal. North River Resources

Arian Silver, a silver exploration, development and production company with a focus on projects in the silver belt of Mexico, has raised £3.89m through the placing of 21.6m shares at 18p each. The funds will be used to finance the drilling programme at its San Jose mine. Mobile phone billing softw

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30 Jun 2010 15:27

PRESS RELEASE: Arian Silver-San Jose Production Statement

LONDON, ENGLAND--(Marketwire - June 30, 2010) - Arian Silver Corporation ("Arian Silver" or the "Company") (TSX VENTURE:AGQ)(AIM:AGQ)(PLUS:AGQ)(FRANKFURT:I3A), a silver exploration and development Company with a focus on projects in the silver belt of Mexico, updates on the status of production on t

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28 Jun 2010 13:55

PRESS RELEASE: Arian Silver-Issue of Shares

LONDON, ENGLAND--(Marketwire - June 28, 2010) - Arian Silver Corporation (TSX VENTURE:AGQ)(AIM:AGQ)(PLUS:AGQ)(FRANKFURT:I3A) The Company has issued 100,000 common shares of no par value in connection with an exercise of share purchase warrants at 10 cents (Canadian) per share. Application has b

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